| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Buy | Buy |
| RSI(14) | Neutral | Neutral | Sell |
| Stochastic(5;3;3) | Neutral | Buy | Neutral |
| Alligator(13;8;5) | Sell | Neutral | Buy |
| SAR(0.02;0.2) | Sell | Sell | Buy |
| Aggregate | ⇘ | ⇒ | ⇗ |
As apparent on the chart, the EUR/TRY currency pair failed to surpass the psychological level at 7.8000. The pair has been trading downwards since the beginning of May.
Given that the exchange rate is pressured by the 55-, 100– and 200-hour moving averages, it is likely that some downside potential could prevail in the market. In this case the rate could gain support from the Fibo 38.20% at 7.0377.
It is unlikely that bulls could prevail in the market, and the currency pair could exceed the psychological level at 8.1000.